According to report published by Grand View Research, The global bromelain market is expected to reach USD 59.2 million by 2025.The meat and seafood industry is the largest market where bromelain is consumed. It is extensively used to improve tenderness of beef, pork, chicken and squids.

The global bromelain market is expected to reach USD 59.2 million by 2025, growing at a CAGR of 8.7%, according to a new report by Grand View Research, Inc. Rising expenditure in R&D to use bromelain to cure diseases such as cancer & acquired immune deficiency syndrome (HIV AIDS) is expected to have a positive impact on the market during forecast period.

This digestive enzyme is extracted from pineapple fruit & stem and is used in numerous industries including healthcare, meat & seafood, dietary supplements, cosmetics, bakery and beverage. Globally, meat & seafood industry is found to be the largest end user industry for this market where its main application is to improve tenderness of meat & seafood.

Meat & seafood was the largest application segment, accounting for 56.8% of the global market volume in 2016. Rising importance of functional ingredients in meat & seafood industry for enhancing the properties of finished food products as a result of technological innovation is expected to promote the use of bromelain.

Healthcare industry accounted for 25.5% of global market share in 2016 and is expected to grow at a CAGR of 9.2 %, by volume in between 2017-2022. As per World bank, global healthcare industry is expected to witness a global GDP expenditure of around 10.5% by 2020. Around USD 8.7 trillion is expected to be spent in this industry every year till 2020. Emerging technologies in developed nations and emergence of demand for the product in the developing nations are the two factors which are expected to drive the market during the forecast period.

North America accounted for 26.8% of the overall volume market share in 2016 and is expected to maintain its position over the next eight years. Growth in meat & seafood sector coupled with surge in R&D in healthcare sector are the two major factors helping North America to maintain its position.

Advantages such as easy procurement of raw material, low production cost and non-toxicity are major reasons leading to increase its demand over other proteolytic enzymes like actinidin from kiwifruit and ficin from figs.

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.